The Computer-Generated File Which Records Acquisitions, Disbursements and Allowances for Each

question 107

Multiple Choice

The computer-generated file which records acquisitions, disbursements and allowances for each vendor is the:

• A)Accounts payable master file.
• B)Cash disbursements file.
• C)Acquisitions transaction file.
• D)Purchase approval file.

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Definitions:

Non-current

Term used to describe assets or liabilities that are not expected to turn into cash, be consumed, or paid within one year or the operating cycle, whichever is longer.

Instalment Payments

Payments made periodically towards the settlement of a debt or purchase price, typically including interest.

Interest

The charge for borrowing money or the compensation paid to depositors on their deposits, usually expressed as an annual percentage rate.